It’s reported that Australian mining giant BHP Billiton currently approved US$12.9 billion investments for new 11 projects in fiscal year 2011.

At the same time, BHP Billiton also approved another US$488 million of pre-commitment funding to support development of the project in Saskatchewan, Canada.

In addition, other under-going projects were expected to approximately US$80 billion over the five years to the end of the 2015 respectively.

However, the company has faced the problem of the raw material and labor costs while developing new projects.

Thus, the company revised the capital budget and schedules during the fiscal year 2011 for the Esso Australia Resources, which was operated by Kipper and Turrum, in which BHP Billiton owns shares.

Also, the capital budget and schedules for Petroleum project and Worsley Efficiency and Growth Project were both revised.